Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...
Business
Abu Dhabi launches technology investment company MGX
ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a...
Business
Business
Libya and Italy sign MoU to boost cooperation in civil aviation
Tripoli, Libya--Libya and Italy have signed an agreement to enhance cooperation to enable air transport companies to operate charter and...
- In September, a Rome-bound aircraft departed from Tripoli restarting flights to Italy after a nearly decade-long suspension due to an EU ban
- The agreement looks to boost cooperation between air transport companies to operate charter and regular flights between the two countries
Geostrategy
Russia plans visa-free travel with Latin American countries
MOSCOW, RUSSIA – A senior Russian official said that they intend to move towards visa-free travel with all countries of...
- The Director of the Russian Foreign Ministry’s Latin American Department said that visa-free travel with all Latin American states is an achievable goal.
- The statement on visa-free travel was made by the senior diplomat on the sidelines of the "Russia - Latin America" conference.
Business
Porsche sales revenue up
The sports car maker posted gains one year after its IPO.
- In the first half of 2023, Porsche posted significant gains in group sales revenue, group operating profit and deliveries
- The sports car maker, after going public, set up individual partnerships in the field of software with Apple and Mobileye
Geostrategy
UAE and Barbados look to deepen trade, energy ties
Bridgetown, Barbados-- The UAE and Barbados have discussed prospects for bolstering bilateral cooperation, particularly in climate action and renewable energy,...
- The UAE foreign minister and Barbados PM discussed mechanisms of joint cooperation across various sectors of economy, tourism and trade
- Sheikh Abdullah bin Zayed's tour looks to show UAE’s keenness to strengthen friendly relations with the countries of Latin America and the Caribbean,
Business
Old Doha Port signs many agreements during Monaco Yacht Show
Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...
- The executive director of the Old Doha Port said the objective of the participation in the show was to put the port on the global map
- The port officials showcased a model to streamline visiting yachts through a mechanism of entry and exit from Qatar
Economy
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...
- The kingdom's finance minister said that the government will continue implementing fiscal and economic structural reforms
- The minister also noted the important role of the PIF and development funds that enhance the growth of non-oil GDP
Geostrategy
Iran proposes to Saudi Arabia to set up working group for visa cancellation
Riyadh, Saudi Arabia--Iran has proposed to Saudi Arabia to set up a working group to look into the idea of...
- The idea of visa cancellation was put forward by Iranian deputy tourism minister while visiting Saudi Arabia
- Iran and Saudi Arabia in March agreed to a Chinese-brokered deal to revive relations after years of hostility
Business
Saudi Fund for Development and Seychelles sign US$25m loan agreements
Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...
- The SFD will contribute $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project
- The fund has so far implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion
Business
Qatar and Libya sign MoU to boost cooperation in civil aviation
Tripoli, Libya-- Qatar and Libya have signed a memorandum of understanding (MoU) to boost cooperation in the field of civil...
- The MoU is a component of joint efforts by the two countries to deepen bilateral relations in the aviation sector
- It is also designed to enhance ways of cooperation in the field of security and safety, and exchanging experiences
Geostrategy
UAE Council review cybersecurity in Jordan summit
Amman, Jordan - The UAE Cyber Security Council discussed cybersecurity in the inaugural Jordan Cyber Security Summit 2023, known as...
- The DOT Cyber Summit 2023 explored issues related to cyber policies and strategies, international issues related to cyber risks and threats faced by countries.
- This includes mechanisms for addressing and combating their spread, and reviewing the experiences of countries and their progress in the field of cyber security.
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...
Business
Company News
World Economic Forum foresees ‘significant economic slowdown’
World Economic Forum
Qatar Islamic Bank profit up
Business
Latest News
GCC banks to maintain resilience in 2024, says S&P Global
Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and...
Business
GCC central banks mimic Fed, hold interest rates steady
Abu Dhabi, UAE--In a significant move that underscores the interconnectedness of global monetary policies, central banks across the Gulf Cooperation...
Economy
Air cargo demand rebounds in 2023 amid economic uncertainty
Geneva, Switzerland-- Air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties, according to...
Business
Most Read
Business
DFM net profit climbs 124 percent
Its board has proposed a cash dividend of US$76.24m.
- The upswing in profit was propelled by a significant uptick in trading activities, capital inflow and a notable influx of new investors
- The bourse consolidated its status as a premier market for IPOs, with the listing of Dubai Taxi Company and Al Ansari Financial Services
Business
UAE and UK seek to boost economic cooperation
Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...
- The discussions to boost trade ties took place during a UAE delegation's visit to the UK to participate in Investopia London, to be held on January 31, 2024
- The UAE minister said the relations between the two countries serve as a prime example for advanced strategic ties and exceptional economic partnership
Business
KEZAD to build new warehouses
It will invest US$169m to develop new capacity.
- The building of new warehousing was spurred by strong demand for such capacity in both free zone and domestic industrial areas
- The group since the third quarter of 2022 has thrown open more than 270,000 sq metres of additional warehousing space in Abu Dhabi